Common use of Care, Custody and Control; Punch List Clause in Contracts

Care, Custody and Control; Punch List. Items‌ (a) Seller shall be responsible for care and custody, and control of the Work and shall make good at Seller’s own cost, or at Buyer’s cost if Seller does not remedy the same, any loss or damage that may occur to the Work or any part thereof from any cause whatsoever until the Substantial Completion Date. Seller shall also be responsible for loss or damage thereto caused by the Contractor or any Subcontractor in the course of any work carried out under or the Project Documents or in connection with the Project until Final Acceptance. Seller hereby waives any and all claims or causes of action it might have now or in the future against Buyer, whether by way of affirmative action, offset, cross claim or otherwise, resulting from any negligence of Buyer for any loss or damage that may occur to the Work or any part thereof caused by Buyer in the course of any work to the extent carried out by Buyer at Seller’s direction or with Seller’s consent in connection with the Project. Seller shall be liable for any loss or damage to any Materials. (b) Care, custody and control of the Work shall be transferred to Buyer as of the Substantial Completion Date. Buyer shall begin to compile a preliminary punch list as the Work progresses (with Seller and Buyer in good faith mutually determining the Dollar value of such list). Buyer shall submit to Seller the completed preliminary punch list at least ten (10) Business Days prior to the anticipated Substantial Completion Date. Within five (5) Business Days following the Substantial Completion Date, Buyer shall issue to Seller a final punch list (the “Final Punch List”). After receipt thereof, Seller and Buyer shall mutually agree on the punch list items, the value related thereto and on a schedule for completion of such items. Buyer shall withhold from its Progress Payment at the Closing an amount equal to 1.5 times the agreed upon value of the Final Punch List, but shall make periodic pro-rata payments as Seller demonstrate completion of the items on the Final Punch List to Buyer. All of the items on the Final Punch List shall be completed expeditiously after the Substantial Completion Date. Buyer shall provide to Seller for such purpose reasonable access to the Work.

Care, Custody and Control; Punch List. Items‌Items (a) Seller Contractor shall be responsible for care and custody, control and control risk of loss of the Work and shall make good at SellerContractor’s own cost, or at Buyer’s cost if Seller does not remedy the same, any loss or damage that may occur to the Work or any part thereof from any cause whatsoever until the Substantial Completion Date. Seller Contractor shall also be responsible for loss or damage thereto caused by Contractors or the Contractor or any Subcontractor Subcontractors in the course of any work carried out under or the Project Documents or in connection with the Project until Final Acceptance. Seller Contractor hereby waives any and all claims or causes of action it might have now or in the future against BuyerCompany, whether by way of affirmative action, offset, cross claim or otherwise, resulting from any negligence of Buyer Company for any loss or damage that may occur to the Work or any part thereof caused by Buyer Company in the course of any work to the extent carried out by Buyer at Seller’s direction or with Seller’s consent Company in connection with the Project. Seller Contractor shall be liable for any loss or damage to any Materials. (b) Care, custody and control of the Work shall be transferred to Buyer Company as of the Substantial Completion Date. Buyer Company shall begin to compile a preliminary punch list as the Work progresses (with Seller Contractor and Buyer Company in good faith mutually determining the Dollar value of such list). Buyer Company shall submit to Seller Contractor the completed preliminary punch list at least ten (10) Business Days prior to the anticipated Substantial Completion Date. Within five (5) Business Days following the Substantial Completion Date, Buyer Company shall issue to Seller Contractor a final punch list (the “Final Punch List”). After receipt thereof, Seller Contractor and Buyer Company shall mutually agree on the punch list items, the value related thereto and on a schedule for completion of such items. Buyer Company shall withhold from its Progress Payment at the Closing final payment an amount equal to 1.5 times the agreed upon value of the Final Punch List, but shall make periodic pro-rata payments as Seller Contractor demonstrate completion of the items on the Final Punch List to BuyerCompany. All of the items on the Final Punch List shall be completed expeditiously after the Substantial Completion Date. Buyer Company shall provide to Seller Contractor for such purpose reasonable access to the Work.

Care, Custody and Control; Punch List. Items‌Items (a) Seller shall be responsible for care and custody, control and control risk of loss of the Work and shall make good at Seller’s own cost, or at Buyer’s cost if Seller does not remedy the same, any loss or damage that may occur to the Work or any part thereof from any cause whatsoever until the Substantial Completion Date. Seller shall also be responsible for loss or damage thereto caused by the Contractor or any Subcontractor in the course of any work carried out under or the Project Documents or in connection with the Project until Final Acceptance. Seller hereby waives any and all claims or causes of action it might have now or in the future against Buyer, whether by way of affirmative action, offset, cross claim or otherwise, resulting from any negligence of Buyer for any loss or damage that may occur to the Work or any part thereof caused by Buyer in the course of any work to the extent carried out by Buyer at Seller’s direction or with Seller’s consent in connection with the Project. Seller shall be liable for any loss or damage to any Materials. (b) Care, custody and control of the Work shall be transferred to Buyer as of the Substantial Completion Date. Buyer shall begin to compile a preliminary punch list as the Work progresses (with Seller and Buyer in good faith mutually determining the Dollar value of such list). Buyer shall submit to Seller the completed preliminary punch list at least ten (10) Business Days prior to the anticipated Substantial Completion Date. Within five (5) Business Days following the Substantial Completion Date, Buyer shall issue to Seller a final punch list (the “Final Punch List”). After receipt thereof, Seller and Buyer Xxxxx shall mutually agree on the punch list items, the value related thereto and on a schedule for completion of such items. Buyer shall withhold from its Progress Payment at the Closing an amount equal to 1.5 times the agreed upon value of the Final Punch List, but shall make periodic pro-rata payments as Seller demonstrate completion of the items on the Final Punch List to Buyer. All of the items on the Final Punch List shall be completed expeditiously after the Substantial Completion Date. Buyer shall provide to Seller for such purpose reasonable access to the Work.

Care, Custody and Control; Punch List. Items‌ (a) Seller shall be responsible for care and custody, control and control risk of loss of the Work and shall make good at Seller’s own cost, or at Buyer’s cost if Seller does not remedy the same, any loss or damage that may occur to the Work or any part thereof from any cause whatsoever until the Substantial Completion Date. Seller shall also be responsible for loss or damage thereto caused by the Contractor or any Subcontractor in the course of any work carried out under or the Project Documents or in connection with the Project until Final Acceptance. Seller hereby waives any and all claims or causes of action it might have now or in the future against Buyer, whether by way of affirmative action, offset, cross claim or otherwise, resulting from any negligence of Buyer for any loss or damage that may occur to the Work or any part thereof caused by Buyer in the course of any work to the extent carried out by Buyer at Seller’s direction or with Seller’s consent in connection with the Project. Seller shall be liable for any loss or damage to any Materials. (b) Care, custody and control of the Work shall be transferred to Buyer as of the Substantial Completion Date. Buyer shall begin to compile a preliminary punch list as the Work progresses (with Seller and Buyer in good faith mutually determining the Dollar value of such list). Buyer shall submit to Seller the completed preliminary punch list at least ten (10) Business Days prior to the anticipated Substantial Completion Date. Within five (5) Business Days following the Substantial Completion Date, Buyer shall issue to Seller a final punch list (the “Final Punch List”). After receipt thereof, Seller and Buyer shall mutually agree on the punch list items, the value related thereto and on a schedule for completion of such items. Buyer shall withhold from its Progress Payment at the Closing an amount equal to 1.5 times the agreed upon value of the Final Punch List, but shall make periodic pro-rata payments as Seller demonstrate completion of the items on the Final Punch List to Buyer. All of the items on the Final Punch List shall be completed expeditiously after the Substantial Completion Date. Buyer shall provide to Seller for such purpose reasonable access to the Work.

Care, Custody and Control; Punch List. Items‌Items (a) Seller shall be responsible for care and custody, and control and risk of loss of the Work and shall make good at Seller’s own cost, or at Buyer’s cost if Seller does not remedy the same, any loss or damage that may occur to the Work or any part thereof from any cause whatsoever until the Substantial Completion Date. Seller shall also be responsible for loss or damage thereto caused by the Contractor or any Subcontractor in the course of any work carried out under or the Project Documents or in connection with the Project until Final Acceptance. Seller hereby waives any and all claims or causes of action it might have now or in the future against Buyer, whether by way of affirmative action, offset, cross claim or otherwise, resulting from any negligence of Buyer for any loss or damage that may occur to the Work or any part thereof caused by Buyer in the course of any work to the extent carried out by Buyer at Seller’s direction or with Seller’s consent in connection with the Project. Seller shall be liable for any loss or damage to any Materials. (b) Care, custody and control of the Work shall be transferred to Buyer as of the Substantial Completion Date. Buyer shall begin to compile a preliminary punch list as the Work progresses (with Seller and Buyer in good faith mutually determining the Dollar value of such list). Buyer shall submit to Seller the completed preliminary punch list at least ten (10) Business Days prior to the anticipated Substantial Completion Date. Within five (5) Business Days following the Substantial Completion Date, Buyer shall issue to Seller a final punch list (the “Final Punch List”). After receipt thereof, Seller and Buyer shall mutually agree on the punch list items, the value related thereto and on a schedule for completion of such items. Buyer shall withhold from its Progress Payment at the Closing an amount equal to 1.5 times the agreed upon value of the Final Punch List, but shall make periodic pro-rata payments as Seller demonstrate completion of the items on the Final Punch List to Buyer. All of the items on the Final Punch List shall be completed expeditiously after the Substantial Completion Date. Buyer shall provide to Seller for such purpose reasonable access to the Work.